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Sunrun Earnings: Continued Focus on Cash Generation Amid Soft Demand Environment
We plan to update our Sunrun model in the coming days, but after our first look, we expect to maintain our $14 fair value estimate. We view shares as fairly valued.
Sunrun Inc RUN
Bulls Say, Bears Say
Bulls
Sunrun is the market leader in residential solar installations with high-teens market share.
Bears
Sunrun’s economics are sensitive to customer renewal expectations, which are highly uncertain.
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News
-
Sunrun Releases 2023 Impact Report
-
Sunrun Reports First Quarter 2024 Financial Results
-
Sunrun’s ‘CalReady’ Power Plant Supports California’s Grid with 16,200 Home Solar-Plus-Storage Systems
-
Sunrun’s ‘PowerOn Puerto Rico’ Virtual Power Plant Helps Island Avoid Rolling Blackouts
-
Sunrun Announces Date for First Quarter 2024 Earnings Report
-
Sunrun Prices $230 million Senior Securitization of Residential Solar & Battery Systems
-
Roivant Sciences Set to Join S&P MidCap 400; Sunrun to Join S&P SmallCap 600
-
Sunrun Selects Carhartt to Protect Thousands of Workers Advancing America’s Customer-Led Clean Energy Transformation
Trading Information
- Previous Close Price
- $11.89
- Day Range
- $11.26–12.14
- 52-Week Range
- $8.43–23.85
- Bid/Ask
- $11.46 / $11.49
- Market Cap
- $2.53 Bil
- Volume/Avg
- 8.5 Mil / 13.7 Mil
Key Statistics
- Price/Earnings (Normalized)
- 82.30
- Price/Sales
- 1.22
- Dividend Yield (Trailing)
- —
- Dividend Yield (Forward)
- —
- Total Yield
- —
Company Profile
Sunrun is engaged in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. The company acquires customers directly and through relationships with various solar and strategic partners. The solar systems are constructed either by Sunrun or by Sunrun’s partners and are owned by the company. Sunrun’s customers typically enter into 20- to 25-year agreements to utilize its solar energy system. The company also sells solar energy systems and products, such as panels and racking, and solar leads generated to customers.
- Sector
- Technology
- Industry
- Solar
- Stock Style Box
- Small Value
- Total Number of Employees
- 10,833
- Website
- https://www.sunrun.com
Competitors
Valuation
|
Metric
|
RUN
|
SEDG
|
ENPH
|
|---|---|---|---|
Price/Earnings (Normalized) | 82.30 | 11.95 | 33.82 |
Price/Book Value | 0.51 | 1.23 | 16.85 |
Price/Sales | 1.22 | 1.23 | 8.80 |
Price/Cash Flow | — | — | 29.77 |
Price/Earnings
RUN
SEDG
ENPH
Financial Strength
|
Metric
|
RUN
|
SEDG
|
ENPH
|
|---|---|---|---|
Quick Ratio | 0.52 | 1.85 | 4.02 |
Current Ratio | 1.31 | 3.70 | 4.59 |
Interest Coverage | −2.68 | 12.42 | 51.17 |
Quick Ratio
RUN
SEDG
ENPH
Profitability
|
Metric
|
RUN
|
SEDG
|
ENPH
|
|---|---|---|---|
Return on Assets (Normalized) | −7.04% | −0.77% | 18.18% |
Return on Equity (Normalized) | −24.56% | −1.44% | 64.33% |
Return on Invested Capital (Normalized) | −4.87% | −1.05% | 24.93% |
Return on Assets
RUN
SEDG
ENPH
Solar Industry Comparables
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
FSLR
| First Solar Inc | Fshdqqzk | Nxjq | $20.8 Bil | |
ENPH
| Enphase Energy Inc | Ncwryxgsbv | Gcnk | $15.6 Bil | |
XNYIF
| Xinyi Solar Holdings Ltd | — | Ydcd | $6.5 Bil | |
NXT
| NEXTracker Inc Ordinary Shares - Class A | Ncdnbdvm | Xwvw | $6.0 Bil | |
XISHY
| Xinyi Solar Holdings Ltd ADR | — | Mhd | $6.0 Bil | |
GCPEF
| GCL Technology Holdings Ltd | — | Stfs | $4.8 Bil | |
SEDG
| SolarEdge Technologies Inc | Ddvjycldd | Zrryb | $2.7 Bil | |
SHLS
| Shoals Technologies Group Inc Ordinary Shares - Class A | Ryhwwnqt | Xpsxw | $1.1 Bil | |
SPWR
| SunPower Corp | Fxb | Gfwl | $500.1 Mil |